Free Audiobook summary of the book The Education of Millionaires by Michael Ellsberg.
People don’t talk about the best-writing author; they talk about the best-selling author.
The Death Of Job Security
The traditional method of job advancement is no longer viable for two reasons:
● Job security is dead; no longer can you work for the same company for the rest of your life.
●The internet and technology have enabled much more flexible work styles.
That Risky Dream
Entrepreneurship is similar to dating in that failure is unavoidable and part of the learning process. What is most important is resilience.
If pursuing a risky dream teaches useful business skills along the way, even in the worst-case scenario, the pursuer ends up learning useful skills.
Two Kinds Of Knowledge
You have street smarts and practical knowledge because you learned it "in the real world" and know how to apply it. This knowledge can only be gained through practise.
Theoretical, abstract knowledge obtained from books and school has no connection to your experience or the real world. This knowledge is more difficult to apply.
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